Gerald Eve posts profit rises in record year

Gerald Eve has reported record rises in turnover and profit for its latest financial year, in what the firm called its “best-performing year in its history”. Turnover rose by around 27% to £96.1m during the year ending 5 April 2022, compared with the previous year, according to accounts filed with Companies House. Operating profit grew to £29.5m, up 51% year-on-year. The firm’s highest paid member took home nearly £4.6m. Average profit per member of the partnership stood at £893,000 for the period, up from £650,000 in the previous year. However, each of those sums included annuities to former partners, the figures for which were not disclosed. The monthly average of members during the year was 33, compared with 30 in 2021. Gerald Eve said in its report that confidence in the business led to further recruitment as well as continued investment in areas such as aviation, infrastructure and sustainability. In June, the business relocated its head office to One Fitzroy, W1T, taking more than 26,000 sq ft across the first and part of the second floor of the building. The agency said the pandemic did not affect its performance, adding that it performed “strongly in all four quarters of the year”. “During the year under review, Gerald Eve continued to thrive while the economy was recovering from lockdowns and Covid-19,” the firm said. Gerald Eve has two offices in central London and a further seven in key towns and cities across the UK. To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews